Australia’s monthly Consumer Price Index (CPI) declined by 2.7% in the year to August, compared to a 3.5% increase seen in July, according to the data published by the Australian Bureau of Statistics (ABS) on Wednesday.
Australia ’s monthly ConsumerPrice Index declined by 2.7% in the year to August, compared to a 3.5% increase seen in July, according to the data published by the Australia n Bureau of Statistics on Wednesday. The marketforecastwas for 2.8% growth in the reported period. Market reaction to the Australia ’s monthly CPI inflation At the time ofwriting, theAUD/USD pairis trading 0.09% lower on the day to trade at 0.6885.
How does the health of the Chinese Economy impact the Australian Dollar? China is Australia’s largest trading partner so the health of the Chinese economy is a major influence on the value of the Australian Dollar . When the Chinese economy is doing well it purchases more raw materials, goods and services from Australia, lifting demand for the AUD, and pushing up its value. The opposite is the case when the Chinese economy is not growing as fast as expected.
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